|
Registered number:
ELEVATE LEGAL SERVICES UK LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2025
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
COMPANY INFORMATION
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
CONTENTS
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present the strategic report for the year ended 31 December 2025.
Directors review of the business for the year ended 31 December 2025:
Elevate Legal Services UK Limited (“ELSUK”), company number: 08484761, with its registered office and principal place of business at One Central Parkway, Newcastle Upon Tyne, NE1 3BZ, is a private limited company incorporated in England and Wales. The Company provides consulting, technology, and services to law departments and law firms offering practical ways to improve efficiency, quality, and business outcomes. The Elevate group of companies (“Elevate” or “the Company”) values relationships with like-minded people throughout the legal community and finds deep satisfaction in seeing its ideas, innovations, and plain hard work result in real improvements in the careers and lives of its fellow professionals and results for the customers that it serves. Elevate operates as an Alternative Legal Services Provider (“ALSP”), offering a mix of legal support, consulting, and technology services. Elevate focuses on routine legal matters, leveraging advanced technologies like AI to enhance efficiency and reduce costs. Elevate provides flexible legal resourcing, allowing customers access to experienced lawyers on a temporary basis. Additionally, Elevate operates with an Alternative Business Structure (“ABS”) license for its ElevateNext UK, Ltd entity, enabling non-lawyer ownership and investment. The results for the period are set out in the profit and loss account and the position of the company is detailed in the Balance Sheet. The 2025 operations were negatively impacted by the intercompany transactions resulting in an operating loss. Despite the loss, the Directors remain confident in the underlying strength of the business. The Directors will continue to monitor the intercompany transactions with the aim of ensuring future profitability and sustained growth. The loss for the year, after taxation, amounted to £900,586 (2024 - profit of £9,314,375).
Position of the business at the year end
As a business, Elevate continued to experience strong customer demand across its UK service lines during the year. However, revenue decreased by £2.28 million, representing a reduction of 14% compared with the prior year. Excluding intercompany transactions, the Company reported a loss margin of 7% in 2025, compared to a profit margin of 2% in 2024. While ELSUK has incurred net operating losses in the past two years, Elevate as a group measures performance based on the success of our business units rather than individual subsidiaries. Business units are broader segments that include multiple subsidiaries. While subsidiaries may incur intercompany expenses, these costs are essential for the overall synergy and operation of the business units. Although these expenses might reduce the profit at the subsidiary level, they do not affect the profitability of the business unit as a whole, which has grown significantly since 2022. This approach is particularly aligned with Elevate’s business model, where work is outsourced to various locations depending on customer needs. By focusing on business units, Elevate as a group better manages and optimises the resources and operations across different locations. This ensures that we meet customer demands efficiently and maintain high service quality. Elevate’s has a track record of strong performance in a fluctuating consulting market and is confident that the Company will continue to operate successfully in the future.
Page 1
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Position of the business at the year end (continued)
Elevate has a very clear organic growth strategy aimed to ensure ongoing stakeholder value and all significant business decisions consider both their short and long-term impact on this strategy. Fundamental to delivering this strategy is to continue recruiting and retaining high-calibre lawyers and legal professionals who deliver work of the highest quality and standards to our customers. Central to the success of the business is the development and maintenance of its open, welcoming, and collegiate culture and we invest significant time and resources to ensure that these facets are maintained and developed for the benefit of all those involved with the Company.
The principal risks faced by the group are those of general market and economic risks in common with other businesses in the current economic climate. The directors aim to manage these risks in order to maintain and improve on the current level of performance.
The Directors believe the principal risks and uncertainties facing the business are:
∙Economic downturn
A significant downturn in the economy impacting the demand for legal services.
∙Litigation, professional liability, and uninsured risks
Due to the nature of a legal firm and its role in providing legal services, the Company is susceptible to potential liability for negligence, breach of contract, and other customer claims. Any potential claim may be expensive to defend and divert the time and focus of management away from the Company’s operations. Also, this may result in the Company having to pay substantial monetary amounts, could impact on the reputation of the Company, and result in a material adverse effect on Elevate’s business and overall financial condition.
∙Regulatory and compliance risks
The Company operates within the industry which is subject to a range of regulations. Significant implications ranging from reputational damage to criminal prosecution and sentencing could happen if there’s a failure to comply with regulatory and compliance rules.
∙Personnel
Just like any business, personnel are a prominent asset heavily contributing to its strength and attractiveness. The Company is reliant on its professionals to attract new customers and maintain relationships with existing ones.
∙Direct competitors
Elevate competes with other ALSP’s in which quality of advice, service, reputation, and value operate as highly competitive factors to distinguish the Company. Despite this, there remains a risk that competitor companies or a newly established company will acquire market share. Competition remains a core risk as any loss of market share could reduce revenue, reduce margins, reduce the ability to recruit new legal professionals and reduce the retention rates of current personnel, any of which could materially adversely affect the business operations and overall financial condition.
∙Information systems and system security breaches
IT forms an integral part of the business’s operating model and, as such, any breakdown of the information technology system could be significant. Also, as Elevate processes sensitive personal data, it is possible that a security breach could result in some of this data becoming public. Were this to occur, the Company could face liability under data protection laws and could lose the goodwill of any customers affected by such a breach. It could also create reputational damage.
Page 2
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Performance measures are monitored monthly and include revenue growth, cash flow metrics, and operational performance indicators specific to each business line. Actual results are regularly compared against prior year performance and forecasts.
The Company reported a loss after taxation of £900,586 for the year ended 31 December 2025 (2024 - profit of £9,314,375). The prior year result included a significant gain arising from the release of intercompany debts. Excluding this gain, the loss after taxation for the year was £900,586 (2024: £399,196 loss).
Excluding the gain on release of intercompany balances, the key financial performance indicators were as follows:
∙Revenue decreased by £2.28 million (14%), from £16,061,485 in 2024 to £13,779,796 in 2025.
∙Loss before taxation increased by £501,390 (126%), from £399,196 in 2024 to £900,586 in 2025.
∙Operating loss margin increased from 2% in 2024 to 7% in 2025, reflecting the higher operating loss incurred during the year.
∙Profit before taxes excluding intercompany expenses, before interest and taxes is £1,493,677 in 2025, compared with £2,953,417 in 2024.
The directors consider the above ratios to be at acceptable levels for the year ended 31 December 2025.
This report was approved by the board on 28 September 2026 and signed on its behalf.
Page 3
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the audited financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £900,586 (2024 - profit £9,314,375).
No dividends were declared or paid during the year ended 31 December 2025 (2024: £Nil). The directors do not recommend the payment of a final dividend.
The directors who served during the year were:
The directors have no significant future developments to report at the date of this report.
Page 4
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
There have been no significant events since the year end that have had, or may have, a material effect on the company.
The auditors, Wilder Coe Ltd, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
Page 5
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ELEVATE LEGAL SERVICES UK LIMITED
We have audited the financial statements of Elevate Legal Services UK Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 6
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ELEVATE LEGAL SERVICES UK LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
Page 7
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ELEVATE LEGAL SERVICES UK LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Discussions with and enquires of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. The following laws and regulations were identified as being significant to the entity:
∙Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, company law, tax and pensions legislation; and
∙Those laws and regulations for which non-compliance may be fundamenal to the operating aspects of the business and therefore may have a material effect on the financial statements include health and safety legislation, and various licensing regulations.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprise of: enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigations or claims; inspection of relevant legal correspondence; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result in fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Page 8
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ELEVATE LEGAL SERVICES UK LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditors
1st Floor Sackville House
143-149 Fenchurch Street
EC3M 6BL
Date:
Page 9
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 10
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
REGISTERED NUMBER: 08484761
BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 13 to 23 form part of these financial statements.
Page 11
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 12
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Elevate Legal Services UK Limited (company number: 08484761), having its registered office and principal place of business at One Central Parkway, Newcastle Upon Tyne, NE1 3BZ, is a private limited company incorporated in England and Wales.
2.Accounting policies
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The financial statements have been prepared under the historical cost convention. The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of Elevate Services, Inc as at 31 December 2025 and these financial statements may be obtained from National Registered Agents, Inc. 1209 Orange Street, Wilmington, DE 19801, USA.
At 31 December 2025, the Company had net liabilities of £5,536,829 (2024: £4,636,243). However, the directors have prepared the financial statements on the going concern basis because the ultimate parent company has given written assurance it will provide any necessary funding to ensure the company can meet its liabilities as they fall due.
In 2024, Elevate Services, Inc. waived an element of the loan receivable and has continued to maintain sufficient resources to support the Group. The ultimate parent company's assurance remains in place until the earlier of the following two events: (1) the Company has adequate resources to meet its liabilities as they fall due, or (2) one year from the date the financial statements are approved by the Directors.
Page 13
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
Page 14
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the group is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Bonus and commission plan The Company operates a bonus and commission plan for employees. An expense is recognised in the Statement of Comprehensive Income when the Company has a legal or constructive obligation to make payments under the plan as a result of past events and a reliable estimate of the obligation can be made.
Page 15
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Goodwill
Other intangible assets
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
Page 16
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date. The impairment loss is recognised in the Statement of Comprehensive Income. Basic financial liabilities, including creditors, bank overdrafts and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Management are of the opinion that there are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities as at year end.
Page 17
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 18
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 19
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
At the Balance Sheet date, the Company has trading losses carried forward of £13,353,048 (2024: £12,530,177) to offset against future profits.
The company has an unrecognised deferred tax asset of £3,338,262 (2024: £3,132,545) in respect of unutilised tax losses. The directors have concluded that there is insufficient certainty of future taxable profit to allow this to be recognised.
Page 20
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 21
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to fund and amounted to £211,800 (2024: £210,811). Contributions totalling £63,433 (2024: £77,431) were payable to the fund at the Balance Sheet date and included in creditors.
Page 22
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ELEVATE LEGAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
As at 31 December 2025 and 31 December 2024 Elevate Services International B.V., a company incorporated in the Netherlands, was the immediate parent of Elevate Legal Services UK Limited.
As at 31 December 2025 and 31 December 2024 Elevate Services, Inc., a company incorporated in the United States of America, was the ultimate parent of Elevate Legal Services UK Limited. The ultimate parent company prepares consolidated financial statements, which can be obtained from their registered address at Elevate Services, Inc, National Registered Agents, Inc. 1209 Orange Street, Wilmington, DE 19801, USA.
Transactions with related parties
Included within other debtors is amounts due from a company director of £83,255 (2024: £83,103). Interest is being charged at the HMRC official rate of interest. Included within debtors is amounts due from fellow subsidiaries of £8,327 (2024: £Nil). Included within creditors is amounts due to the ultimate parent of £7,777,016 (2024: £7,373,285). Included within creditors is amounts due to fellow subsidiaries (excluding the immediate parent) of £1,693,129 (2024: £1,519,659). During the year, intercompany sales from the ultimate parent were recognised of £517,421 (2024: £328,120). During the year, intercompany management charges from the ultimate parent were recognised of £1,515,714 (2024: £2,242,074). During the year, intercompany management charges from fellow subsidiaries were recognised of £891,726 (2024: £1,148,418).
Page 23
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||